Canara NRE FD Rates

Note: Rates as of 23rd March 2026

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 Interest paid monthly/quarterly

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Earn Up to

13.25%

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Canara NRE FD Rates

For Callable Deposits

Book FDs at Interest rate upto 8.00% p.a

 Manage all FDs in one place

 No Bank A/C Required

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For Non-Callable Deposits

Features of Canara Bank NRE FD

• Repatriation and remittance facilities are available.
• Interest earned on a deposit is tax-free.
• Nomination facility is available.
• Loans are permitted on the deposit amount.
• Premature withdrawal facility is available (terms apply).

Also Check : Canara Bank FD Rates

Eligibility Criteria for Opening a Canara Bank NRE FD Account

The following individuals can invest in the Canara Bank NRE FD scheme:

• Non-Resident Indians (NRIs)
• Persons of Indian Origin (PIOs)
• Overseas Citizen of India (OCI)
• Indian seafarer
• Indian government employees with a diplomat’s passport
• Students studying abroad

Documents Required to Book a Canara Bank NRE FD

Proof of NRI status documents

1. For NRI: An Indian passport along with any one of the following documents:

• Valid Visa/ E-visa
• Work Permit/ Employment/ Employment Contract copy
• Proof/certificate of residence/Residence Permit

2. For PIO/OCI: Foreign Passport with any one of the following documents:

• OCI Card
• PIO card
• Indian Ration Card (Self or Close Relative)
• Indian Voter ID card (Self or Close Relative)
• Expired Indian Passport (Self or Close Relative)
• Marriage Certificate along with the spouse’s NRI/PIO status proof
• Certificate issued by Indian Embassy
• Relevant passport pages of the applicant’s parents or grandparents as proof of Indian origin.

3. For Seafarer: Indian Passport with any of the documents given below:

• Valid Visa
• Work Permit
• Valid Job Contract
• Continuous Discharge Certificate (CDC), if the disembarkation stamp is not more than 180 days old.
• Expired contract letter (if the disembarkation stamp on CDC is not more than 180 days old
• Pay slips evidencing employment with a shipping company ( not more than 6 months old)

Proof of Identity

• Passport

Proof of Address

A. Indian address proof documents Any one of the below mentioned:

• Indian Passport
• Aadhaar Card
• Driving License
• Voter Identity Card
• NREGA Job Card signed by an officer of the state government

B. Overseas address proof documents: (For NRIs with a seafarer work profile and on board a ship, can provide either the employer’s overseas or Indian address.)

• Abroad Passport
• Sale deed agreement
• Lease deed or rent receipt (not older than 3 months)
• Overseas Driving License
• Company ID containing the address
• ID issued by the government mentioning overseas address (PIO, OCI, Green Card, SSN card issued in the US)
• Utility Bills (Mobile, Water, Electricity, Gas from private or public operators not exceeding 2 months prior only)
• Employment letter/Employer certificate mentioning overseas address
• Bank Statement of Overseas Bank account or an Indian-based bank abroad (max.2 months old)
• Credit card statement (not older than 3 months from the date of application)
• For an Indian Diplomat certificate issued by the Indian Diplomatic mission, stating the correct address
• Identity Card issued by a foreign government
• Registered Rent Deed
• Government-issued letter mentioning overseas address.
• Work Permit mentioning overseas address
• OCI/PIO card mentioning overseas address
• NRIs with a seafarer work profile and on a ship can either give their employer’s overseas address or their Indian address.
• Council Tax Bill
• Permanent Resident Permit mentioning overseas address: UAE Resident Card, Qatar/Oman/Singapore/Malaysia Residence Card, or Saudi Arabia Resident Permit (Iqama).
• In case of a joint account with close relatives, a document evidencing and establishing the relationship is required.
• Permanent Resident Permit mentioning overseas address:
• For joint accounts with close relatives:
  • A valid document establishing the relationship is required.

Additional proof for customers who are not visiting the branch for account opening

Any one of the following:

• Indian Passport
• Proof of income / Income tax return / Salary slip
• Cancelled cheque of overseas bank account
• Cheque drawn on an overseas bank account

Premature Withdrawal of Canara Bank NRE FD

• No interest will be paid if the NRE term deposit is prematurely closed or extended before completing 1 year.
• The penalty will be waived off, for prematurely extending an NRE FD for a period longer than the original tenure.
• No penalty will be charged on premature closure or extension of NRE FDs of Rs. 3 crore and above, if they were opened or renewed on or after 12 March 2019.
• A 1% penalty will be charged on premature closure or extension of NRE FDs of Rs. 1 crore and above, if they were opened or renewed between 29 Dec 2011 and 12 Oct 2012 and are closed early.

FAQs

Is NRE FD tax-free in Canara Bank?

Yes, the interest earned on Canara Bank NRE Fixed Deposits is tax-free in India.

Do senior citizens get additional benefits on Canara Bank NRE FD?

No, senior citizens do not receive any additional benefits on Canara Bank NRE Fixed Deposits.

Can I withdraw my Canara Bank NRE FD before maturity?

Yes, premature withdrawal is allowed on Canara Bank NRE FDs, subject to applicable terms and conditions and penalty.